On January 1, 2022, the Ace Corporation issued $1,000,000 of 6%,10 year bonds for 98 . The bonds were dated January 1 . Interest is paid annually on January 1 of each year. Instructions: 1. Prepare the journal entry on January 1, 2022 for the issuance of the bonds. 2. Prepare the journal entries for the year end interest accrual and amortization of the discount for December 31, 2022 3. Prepare the journal entries for the interest payments on January 1, 2023 4. Compute the interest expense for 2022